Sachem Capital and Industrial Realty Group said they entered a definitive contribution agreement to combine into IRG Realty Trust, a public industrial REIT expected to hold 98 properties and carry an implied enterprise value of about $3.4 billion. The transaction still needs shareholder approval and other closing conditions.
Sachem Capital Corp. and Industrial Realty Group said they have entered a definitive contribution agreement to combine into a new public company, IRG Realty Trust, in a deal that would create a top-10 public industrial REIT.
The companies said the combined platform would hold 98 industrial properties and have an implied enterprise value of about $3.4 billion. The transaction was announced on May 18 after Sachem disclosed the agreement in an SEC filing a day earlier.
The proposed structure calls for IRG to contribute its 98-asset industrial portfolio into Sachem, which would then operate as IRG Realty Trust. The companies said the deal is expected to close by the end of 2026, but only after shareholder approval and other customary closing conditions.
What happens next
The transaction is not final. Sachem shareholders still need to approve the combination, and the companies must satisfy the remaining closing requirements before the new REIT can launch.
For now, the announcement marks a major step toward taking IRG’s industrial portfolio public through a single REIT structure.
Revision note
Initial automated publication.